Ethereum's ether (ETH) surged over 10% in a single day, reaching $2,300 and marking its strongest rally in weeks. The gain outpaced bitcoin’s 3% rise, indicating growing investor interest in altcoins.
Last week, U.S. spot ether ETFs drew more than $160 million in new capital-the highest since mid-January. BlackRock’s new Ethereum staking ETF, ETHB, attracted over $45 million in two days, plus a $104 million seed investment.
Corporate treasury activity added momentum: BitMine (BMNR) bought nearly 122,000 ETH-worth over $280 million-amid a broader rotation from bitcoin into ethereum. BMNR shares rose 13.6% Monday.
Analysts cite improving risk appetite and technical breakouts, including ETH’s move above a key range against BTC. Still, gains may hinge on Federal Reserve policy signals.
"The floor looks solid," said Tesseract Group’s Adam Saville Brown. "The ceiling requires more than a rate hold to break through."